Anavex Life Sciences Corp (AVXL)

[Joseph_K]

Interesting money-raising scheme by Cassava.

Form 8-K: 4 free warrants per 10 shares to all who are shareholders as of 12-22-2023.
https://www.cassavasciences.com/node/16701/html

Redeemable until November 2024 for $33 per warrant.
https://www.cassavasciences.com/node/16701/html#ex_605372.htm

For SAVA-fans: Raises money for SAVA. For cynics: Sidesteps registering with the SEC "because the issuance of a distribution in the form of a warrant for no consideration is not a sale or disposition of a security."

Stock is up 13‰ on very heavy volume today; up more than 50% over last three trading days.